Court overturns freeze on City suspects’ assets

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LAWYERS representing six individuals who were arrested last month by regulation bodies have successfully won a lift on a series of freezing orders placed on assets by the courts.

The six City figures who were arrested in March by the Financial Services Authority (FSA) and the Serious Organised Crime Agency (SOCA) have seen their assets unfrozen after a series of agreements were granted by a judge in the Southwark County Court.

Some of the six have offered property assets of up to £1m, while it is understood that others have agreed to a £4m security deposit.

The judge had turned down two previous requests to have the freeze lifted.